Maidment Judd Chartered Accountants
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04/05 Car and Fuel Benefits

Company cars 2004/05

CO2 emissions (g/km) (round down to nearest 5g/km)

% of car’s list price taxed

Fuel benefit (£14,400 x %)

up to
145

15

2,160

150

16

2,304

155

17

2,448

160

18

2,592

165

19

2,736

170

20

2,880

175

21

3,024

180

22

3,168

185

23

3,312

190

24

3,456

195

25

3,600

200

26

3,744

205

27

3,888

210

28

4,032

215

29

4,176

220

30

4,320

225

31

4,464

230

32

4,608

235

33

4,752

240

34

4,896

245
and above

35

5,040

Company cars

  • For diesel cars add a 3% supplement, but maximum still 35%.

  • Discounts apply to certain environmentally friendly cars.

  • For cars registered before 1.1.98 charge is based on engine size.

  • The list price includes accessories and is subject to an upper limit of £80,000.

  • List price is reduced for capital contributions made by the employee up to £5,000.

  • Payments made by employees may reduce the benefits.

Fuel benefits

  • The fuel benefit charge is proportionately reduced if provision of private fuel ceases part way through the year.

  • The fuel benefit is reduced to nil only if the employee pays for all private fuel.

Van benefit per vehicle - 2004/05 and 2003/04

Vehicles under 4 years old
£500

Vehicles at least 4 years old
£350

Notes
1. The age is determined at the end of the tax year.
2. Van benefits include fuel for private use.

Mileage Allowance Payments

Cars and vans

2004/05 and 2003/04 Rate per mile

Up to 10,000 miles

40p

Over 10,000 miles

25p

Bicycles

20p

Motorcycles

24p

These rates represent the maximum tax-free mileage allowances for employees using their own vehicles for business. Any excess is taxable. If the employee receives less than the statutory rate, tax relief can be claimed on the difference.

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© Copyright Maidment Judd 2004 - 2010. All rights reserved. This information has been produced for general interest. It is therefore essential to take advice on specific issues. We are unable to take responsibility for any outcome resulting from acting upon, or refraining to act upon, this information.